SOUTH Africa’s Tongaat Hulett (Tongaat) says it is now in a position to wean off its Zimbabwean operations, which are now self-sustaining. Tongaat has over the years injected millions of dollars into its Zimbabwean operations, which comprise the wholly owned Triangle Sugar operation and its 50,3 percent holding in Hippo Valley Estates. “The operations earn…
ESCROW Financial Solutions (Escrow) says it has added 10 000 new investors to Zimbabwe’s capital markets since the introduction of local mobile trading platform, CTrade, in July last year. Before the introduction of the platform, the Zimbabwe Stock Exchange (ZSE) was said to have only 7 000 active users. Collen Tapfumaneyi, Escrow’s chief executive, said…
THE Bankers Association of Zimbabwe (BAZ) says banks’ profit margins will continue to be under pressure from inflation after the central bank governor John Mangudya did not liberalise interest rates in his monetary policy statement (MPS) last week. Lending rates are currently capped at 12 percent, which analysts say when contrasted against an inflation rate…
ZIMBABWE’S capital markets regulator says it has plans to formulate a regulatory framework for crypto currencies in the country. This comes as governments and regulators across the world are struggling to define and implement definitive rules for the rapidly emerging asset class. The South African Reserve Bank last month published a document that offers recommendations…
FIFTY years ago one of Zimbabwe’s best cricketers, Andy Flower was born. He was one of the world’s best wicket-keeper for more than 10 years in the 90s and early 2000s and statistically by far the finest batsman the nation fielded and the world admired. For the cricket gods and the…
THE Reserve Bank of Zimbabwe (RBZ) and analysts agree that the recent introduction of a battery of measures to stabilise the foreign exchange market and commodity prices by the central bank would not alone solve the country’s economic challenges. This comes as experts have also warned that demand for hard cash in the country is…
THE decline in gold deliveries during the last quarter of 2018 dragged down Zimbabwe’s economic growth, a leading equities firm has said. In an analysis of the monetary policy statement presented by Reserve Bank of Zimbabwe governor John Mangudya last week, Old Mutual Securities (OMSEC) said the decline in deliveries between October and December due…
THE Insurance and Pensions Commission (IPEC) says the recent rebasing of Zimbabwe’s Gross Domestic Product (GDP) has painted a different picture of insurance penetration in the country, which it says came down to 2,9 percent from 4,7 after the revision. In October last year, Zimbabwe’s statistics agency rebased some of its economic statistics, in an…
The message coming out of the first Formula 1 pre-season test was as clear as it gets at this time of year – Ferrari are a step ahead of the field, and world champions Mercedes have some catching up to do. The Ferrari was quick every time it went out, got down to fast times…
NICOZDIAMOND Insurance Limited (NDIL) managing director Grace Muradzikwa says she will be leaving the company at the end of this month. Muradzikwa, who has led the short term insurance firm for 16 years, will be replaced by Tristar Insurance Company managing director David Nyabadza. “It is true I will be leaving NicozDiamond at the end…
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